Class Action Complaint Filed Against Zynga Board Members and Underwriters Alleging Breach of Fiduciary Duty

April 5, 2013

On April 4, 2013, a class action complaint was filed in the Delaware Court of Chancery against Mark Pincus, Zynga's CEO, and other members of Zynga's board of directors (the "Board"), asserting a claim for breach of fiduciary duty on behalf of a class ("Class") consisting of present and former employees and other shareholders of Zynga who were not permitted to sell shares in a secondary offering of ZNGA stock due to certain lockup agreements.

Additionally, a claim for aiding and abetting a breach of fiduciary duty is asserted on behalf of the Class against Morgan Stanley and Goldman Sachs ("Underwriter Defendants"), as underwriters of Zynga's initial public offering ("IPO").

For further details on this litigation, please click here.